Light elements having 2p electrons such as B, C, and N are common elements that have played an important role in various functional materials. In particular, nitrides have long been used in the development of semiconductors, superconductors, and magnets. More recently, Fe‐ and Mn‐based antiperovskite‐type compounds with light elements have attracted considerable attention in the field of spintronic engineering, because of the development of intriguing and practical applications making them one of the key materials for future devices. In this article, it is first reviewed the evolution of applications and which light elements are employed. Then the representative applications and characteristics of the light elements, including magnetoresistive effects, magnetization switching, current‐spin and thermoelectric conversions, magnetic anisotropy, and domain nucleation are individually highlighted. Additionally, the crystal structure, fundamental properties, and theoretical study are addressed to enable a deeper understanding of the role of light elements in the unit cell. Beyond compounds with N, a demonstration using B and C is discussed to examine their effect on the magnetic structures of antiperovskite compounds. Finally, prospective and future strategies are discussed to build a platform of practical material based on light elements.